Pension fraudsters forced to hand over their assets

Susan Dalton and Alan Barratt

Two convicted fraudsters have been ordered to hand over the majority of their assets after a Proceeds of Crime Act (POCA) investigation by The Pensions Regulator (TPR).

Under the POCA, Susan Dalton, 68, of Rochdale and Alan Barratt, 64, of Essex were ordered to pay £25,010 and £9,771 respectively at a hearing at Southwark Crown Court on Wednesday 17 January 2024.

According to TPR investigators, the amounts represent the vast majority of Barratt and Dalton’s remaining assets. If further assets are linked to the pair, TPR can ask the court to increase the amount payable under a confiscation order.

Dalton and Barratt were jailed in April 2022 after admitting their part in a criminal enterprise which persuaded 245 members of legitimate occupational pension schemes to transfer their pension savings, worth about £55,000 on average and with a total value of £13.7 million, into scam pension schemes under the control of the defendants.

Barratt received a custodial sentence of five years and seven months while Dalton was sentenced to four years and eight months in prison. The pair were also banned from acting as company directors for eight years.
 

Read more: Fraudsters jailed for a total of 10 years for £13 million pension scam after TPR prosecutionPublished: 23 April 2022

Nicola Parish, TPR’s Executive Director of Frontline Regulation, said: “We already put fraudsters Barratt and Dalton behind bars, now we are depriving them of the remainder of their ill-gotten gains.

“Our thoughts continue to be with the pair’s victims, many of whom saw their lives devastated by Barratt and Dalton’s crimes.”

The investigation’s successful conclusion means the independent trustees running schemes affected by the fraudsters’ crimes can now take steps to further progress the claims on the Fraud Compensation Fund.

If Barratt or Dalton fail to pay, they risk a further jail term and will still be liable for the ordered sums, plus interest.

The money will be returned to the affected pension schemes, which are now being run by the independent trustee Dalriada Trustees Limited.